Accepting Visa For Small Business

Accepting credit and debit cards can help your small business grow quicker than you could have ever imagined. But which cards are the best to accept and how do you set up a card payments system? I am going to cover every aspect of making your company credit and debit card-friendly so that you can get started right away!

If you run a small business, you may want to accept credit cards. Specifically, the most ubiquitous of all card types: Visa. While there are other types of cards out there, Visa is accepted nearly everywhere, and is thus a reasonable fallback when your customer doesn’t have cash or cheque on them.

As a small business owner, you want to make it as easy as possible for customers to purchase your products and services. While there are expenses that arise with accepting credit cards, there are numerous benefits to doing so. These benefits can be broken down into several categories:

One of the things you’ll have to plan for when starting your own business is how your customers will pay you. Sure, cash might be the simplest payment method, but it’s not the most popular. In fact, a 2019 Federal Reserve study found that only a small percentage of payments today are made with cash and about 34% are made with credit cards.

It’s definitely in your best interest to accept credit cards for your small business. To help you get started, we’ve broken the process down into three simple steps — and we’ve listed the three best payment processors to use.

How to easily accept credit card payments as a small business

Step 1: Decide how you’ll accept payments

First, decide how you will accept credit card payments. The primary options are:

• In-person payments
• Online payments
• Mobile payments

Depending on the type of business you run, it might be quite clear what type of payments you’ll accept. For example, if you provide online services, chances are you’ll solely accept online payments.

For other types of businesses, you might need a combination of payment methods. For example, maybe you run an online e-commerce site where you sell crafts, but you also sell them in-person at craft fairs. In that case, you would likely need both online and mobile payments. On the other hand, a new restaurant might need to accept primarily in-person payments but also allow for online payments for to-go orders.

You know your business best, and only you can decide how you’ll need to accept payments.

Step 2: Choose your payment processor

In the past, you needed a merchant account to accept credit card payments for your small business. Your merchant account would provide payment processing, point of sale systems, and credit card terminals.

While merchant accounts are still an option, they often require high fees and lengthy contracts. And thanks to technology, there are plenty of more affordable options available today.